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Egypt's external debt down to $46 billion in Q1 of 2015/16: CBE

Ahram Online , Monday 7 Dec 2015
Egyptian Stock Exchange
People walk in front of the Egyptian Stock Exchange in Cairo, Egypt, December 3, 2015 (Reuters)
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Views: 3213

Egypt’s external debt declined by 3.95 percent during the first quarter of the current fiscal year 2015/16 to record $46.1 billion, according to data released by the Central Bank of Egypt (CBE) on Monday.

The external debt has been eased to represent 12.6 percent of Egypt’s Gross Domestic Product (GDP) compared to 15 percent ($48 billion) in the fourth quarter of 2014/15 fiscal year, the CBE’s November bulletin shows.

Egypt’s total domestic debt stands at LE2.1 trillion, amounting to 88 percent of the GDP.

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